Top perks
The Robinhood Gold Card is a great cash back card for everyday spenders. Robinhood Gold members pay no extra annual fee, and subscribing to Robinhood Gold for a month costs less than a cup of coffee. The card offers 5% cash back on purchases through the Robinhood travel portal and 3% on everything else.
3% cash back on everyday purchases
Robinhood offers a flat 3% cash back on all categories, better than any flat cash back credit card offer we've seen from competitors. It's simple to use, and there are no rotating rewards categories to track. This perk is perfect for casual spenders. Just swipe and go.
5% cash back on purchases through the Robinhood travel portal
According to the Robinhood website, users get 3% cash back when booking travel through the Robinhood travel portal with the Robinhood Gold Card. It's a generous perk, competitive with offers from the best travel credit cards with low annual fees. But Robinhood has yet to release the Robinhood travel portal. Until we know what we're getting, the jury is out. It's a perk worth keeping an eye on.
No annual or foreign transaction fees
There are zero annual or foreign transaction fees, which puts the Robinhood Gold Card in the rare class of cards that offers big rewards for low fees. However, there's a big caveat. You must be a Robinhood Gold member to access the card. As of the time of writing, a Robinhood Gold membership costs $5 monthly or $60 annually. You're essentially paying $60 for an annual credit card membership (unless you're already a monthly Gold user).
Even so, the fee is low compared to other top-tier rewards cards. If you spend $1,200 annually, you'll earn back a year's worth of membership fees; anything beyond that is bonus money.
Zero foreign transaction fees make the card ideal for spending abroad. Robinhood partners with Visa, so the network of out-of-country stores that accept the Gold Card is massive. The card offers Visa's signature trip interruption protection, further securing travel budgets.
Integration with the Robinhood app
The Robinhood credit card app synergizes well with the Robinhood brokerage app. For example, users can send cash back from their credit card app to the brokerage app in seconds, and the money is available to invest instantly. It's a simple way to turn credit card points into a recurring investment budget.
Family-friendly features
The Robinhood credit card app lets you do a lot for family members. You can designate other card users, limit their spending, and track purchases. According to Robinhood CEO Vladimir Tenev, users can grow the credit score of cardholders in this way. Parents can use this to improve their kids' credit scores, monitor spending, and teach good spending habits. Users may also add relatives who struggle to get credit card approvals.
Other perks include disposable virtual cards and anonymized purchases. Disposable virtual cards are exciting because they make canceling subscriptions easy. You go into the credit card app, select the virtual card, and cancel it. This is great for users who sign up for free trials and forget to cancel them (or hate the hassle).
Fast and easy application
Applying for the card is simple. You fill out some fields in the Robinhood app, then hit apply. During the demonstration offered during the Robinhood "Gold Standard" event, the on-stage presenter took less than two minutes to apply for the credit card and get approved.
Stainless steel
If you like the heavy feel of premium cards, you'll enjoy the feel of the Robinhood Gold Card. It's made of stainless steel, an uncommon perk. While many consider this an upside -- and it often is -- it's worth noting that stainless steel cards don't bend easily, making wallets less flexible.
